210 Brook St

Muscatine, IA 52761

$144,900D

3 bd · 1.5 ba · 1,406 sqft · Built 1890 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,234/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$214
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $1/mo
• Annual: $15/yr
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• 1% rule: 0.85%
• Cash to close: $40,572

Investor read

• This is a 3-bed/1.5-bath single-family listed at $145k.
• At list price, monthly cash flow is $1 ($15/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (14.8% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $123k (14.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#358 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety D+, amenities F, commute F.
• Muscatine Community School District (town): math 55% / reading 59% proficiency, ranked #257 of 289 in IA (top 89%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 188 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Muscatine County in 2024 (45 in 5+ unit buildings).
• Muscatine County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Questions for listing agent

• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.